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Archived: Fig – equity and rewards based crowdfunding for games

iCrowdNewswire - Aug 27, 2015

The more mature a market is, the more specialized new ventures are. What we’ve seen with blogs and news sites some years ago is now happening to the crowdfunding industry. Fig, a website that offers equity and rewards based crowdfunding mixed together, proves the point.

One key feature of Fig is that the website is for games only. No other types of projects are allowed. Backers have the choice to buy the perks associated with the game or to fund it as an (accredited) investor.

Outer Wilds

Currently, they have only one project: Outer Wilds, a first person space exploration game. Having won the Seamus McNally Grand Prize in Independent Games Festival, the same prize awarded to Minecraft and Fez in previous years, the game has a sounding background to back it up.

The funders plea $125,000 to finish the game and, with 21 days to the end of the campaign, they’ve managed to raise more than $75,000, indicating a likely success.

Trend

With JOBS Act having most of the articles regulated, there certainly is space for lots of equity crowdfunding projects. Lots of website have been opened and there are people out there advising creators to run their own crowdfunding website instead of delivering 5% of the income to Kickstarter or Indiegogo while promoting them to a wider audience.

There is also a strong demand for mixed traditional and equity crowdfunding. Many backers of Oculus Rift, for example, complained that they got nothing in exchange when the company was sold to Facebook by $2 billion. They backed the company in their early stage helping them raise $2.4 million in their campaign by pre buying their product. By that time, there was no equity crowdfunding option available (and there couldn’t be, due to non existing regulations by then).

While Outer Wilds future looks bright, Fig’s future remains a question. However, that model will certainly cause some influence in the industry.